MCX Stock Exchange

MCX Stock Exchange (MCX-SX), India’s new stock exchange

Started functions in the Forex Types area on Oct 7, 2008 under the regulating structure of Investments & Securities and Exchange Board of India (SEBI) and Reserve Bank of Indian (RBI). The Return is acknowledged by SEBI under Section 4 of Investments Agreements (Regulation) Act, 1956. In line with international best methods and regulating specifications, cleaning and agreement is performed through a individual cleaning organization, MCX-SX Clering Corporation Ltd. (MCX-SX CCL).

MCX-SX, which had started functions in Forex Commodity area, has been seeing a stable and considerable growth in regular everyday revenues and open attention ever since its beginning. The normal everyday revenues of currency futures was standing at Rs 13,530.47 crore at the end of September 2012, a considerable increase from an ADT of Rs 324.78 crore in the first month of functions. Finishing the variety of currency risk management products, MCX-SX lately presented its first separated product in Forex Alternatives with less sized mark size of 10 bps.

The currency derivatives area at MCX-SX is backed by a strong account base and witnesses a nation-wide contribution. At the end of July 2012, MCX-SX had 751 members and saw contribution from 714 places across Indian.MCX-SX obtained authorizations to deal in Interest Rate Types, Value, Commodity & Alternatives on Value and General Debt Segment, vide SEBI’s news letter July 10, 2012. MCX-SX has roped in a extensive range of partners, including media, institutions, trade bodies and international organizations to mutually conduct programs on economical knowledge & trader awareness and start other developing programs for India’s markets. MCX-SX efforts to ensure ongoing innovation by presenting various goods and services under the extant regulating structure.

Product: MCX-SX started live functions on Oct 7, 2008 by releasing per month agreements in the USDINR forex couple under the regulating structure of Investments and Securities and Exchange Board of India (SEBI), and Reserve Bank of Indian (RBI). Consequently, the stock market extended its forex types promotions to Euro-Indian Rupee (EURINR), Lb Sterling-Indian Rupee (GBPINR) and Japoneses Yen-Indian Rupee (JPYINR).

Symbol	USDINR
Instrument Type	FUTCUR
Unit of trading	1 (1 unit denotes 1000 USD)
Underlying	The exchange rate in Indian Rupees for a US Dollar
Tick size	Tick size Rs.0.25 paise or INR 0.0025
Trading hours	Monday to Friday 9.00 a.m. to 5.00p.m.
Contract trading cycle	12 month trading cycle.
Last trading day	Two working days prior to the last business day of the expiry month at 12 noon.
Final settlement day	Last working day (excluding Saturdays) of the expiry month. The last working day will be the same as that for Interbank Settlements in Mumbai.